Only 39% of EU EMT Issuers Hold CASP Approval for Custody Services

Just 9 of 23 approved EU stablecoin issuers hold CASP licenses, restricting 14 from offering custody. Circle secured MiCA approval for USDC/EURC institutional services.

Woofun AI reports that among approximately 23 approved electronic money token (EMT) issuers in the European Union, only nine have obtained authorization to provide crypto asset services (CASP). This regulatory distinction permits only these nine entities to offer custody and transfer services for their issued stablecoins, while the remaining fourteen are restricted to minting or destroying tokens directly into customer wallets without holding assets on behalf of clients. Patrick Hansen, Senior Director of Strategy and Policy for EU affairs at Circle Internet Group, noted that Circle has secured the necessary CASP approval via the MiCA Article 60 notification process, enabling custody and payment services for USDC and EURC institutional clients. The nine issuers currently providing crypto asset services include Circle, Société Générale - Forge, CACEIS Bank, Banking Circle, Bridge, Fiat Republic, Newrails, Blue EMI, and Stable Mint.